Former CIO Mark Ruh will stay on during the transition
HomeStreet has found a replacement for Mark Ruh, appointing John Michel as the chief financial officer of both HomeStreet and its subsidiary HomeStreet Bank.
HomeStreet announced last week that Ruh decided to step down from his position as chief financial officer and executive vice president. The exec also agreed to give up his title once the company found a successor, and remain to assist in the transition.
Starting May 4, Michel will be responsible for all aspects of the company’s financial management.
Michel most recently served as chief financial officer of First Foundation. Before that, he worked at other banks and specialty finance companies, including Deloitte & Touche, where he was a senior manager. Michel has more than 20 years of experience in banking, mortgage, and real estate accounting.
“John is a highly proficient financial executive with extensive experience in bank finance, treasury management, accounting, tax, and public company reporting,” said Mark Mason, president, CEO, and chairman of the board of HomeStreet. “Being able to retain a financial executive with John’s expertise and background is a significant opportunity for HomeStreet. Having worked together with me and other members of our executive management previously, I look forward to John joining the team and immediately affecting our business in a positive way.”